BERLIN (Reuters) - German Chancellor Angela Merkel's CSU Bavarian allies said on Wednesday that the European Central Bank should quickly terminate its asset purchase programme and put an end to its low interest rate policy.

"We want an end to the low interest rate policy. The ECB must end its bond-buying programme as soon as possible," the Christian Social Union (CSU) said in a draft communique seen by Reuters that the CSU is due to agree upon on Thursday.

The CSU, Bavarian sister party to Merkel's Christian Democrats (CDU), is holding a two-day meeting near Berlin.